SWING IDEA - SAFARI IND (INDIA)
Consider a compelling swing trade opportunity in Safari Industries, a renowned luggage and travel accessories manufacturer in India.
Reasons are listed below :
Target - 2320 // 2730
Stoploss - weekly close below 1700
DISCLAIMER -
Decisions to buy, sell, hold or trade in securities, commodities and other investments involve risk and are best made based on the advice of qualified financial professionals. Any trading in securities or other investments involves a risk of substantial losses. The practice of "Day Trading" involves particularly high risks and can cause you to lose substantial sums of money. Before undertaking any trading program, you should consult a qualified financial professional. Please consider carefully whether such trading is suitable for you in light of your financial condition and ability to bear financial risks. Under no circumstances shall we be liable for any loss or damage you or anyone else incurs as a result of any trading or investment activity that you or anyone else engages in based on any information or material you receive through TradingView or our services.
@visionary.growth.insights
Reasons are listed below :
- Flag and Pole Pattern: Safari Industries displays a flag and pole pattern, indicating a potential continuation of the prior uptrend.
- Bullish Marubozu Candle in Weekly Timeframe: The presence of a bullish Marubozu candlestick pattern on the weekly timeframe suggests strong buying momentum and potential upward movement.
- 50 EMA Support: The stock finds support at the 50 Exponential Moving Average (EMA), reinforcing the bullish bias and indicating potential for upward momentum.
- 0.382 Fibonacci Support: Safari Industries receives support at the 0.382 Fibonacci level, providing a solid foundation for potential upward movement.
- Support at 1700 Level: The stock finds support at the 1700 level, indicating a strong buying interest and potential for a bullish reversal.
- Higher Highs: Safari Industries consistently forms higher highs, reflecting a trend of increasing bullish momentum and reinforcing the potential for further gains.
Target - 2320 // 2730
Stoploss - weekly close below 1700
DISCLAIMER -
Decisions to buy, sell, hold or trade in securities, commodities and other investments involve risk and are best made based on the advice of qualified financial professionals. Any trading in securities or other investments involves a risk of substantial losses. The practice of "Day Trading" involves particularly high risks and can cause you to lose substantial sums of money. Before undertaking any trading program, you should consult a qualified financial professional. Please consider carefully whether such trading is suitable for you in light of your financial condition and ability to bear financial risks. Under no circumstances shall we be liable for any loss or damage you or anyone else incurs as a result of any trading or investment activity that you or anyone else engages in based on any information or material you receive through TradingView or our services.
@visionary.growth.insights
Comment:
Made a high of 6.5%